Aceve – Adelis Equity

About Aceve

Aceve is a pan-European provider of ERP and FSM vertical software to over 22,000 customers and active in the construction and skilled trades industries across seven countries.

The Journey

Created a Northern European leader in its niche, capitalizing on increasing digitalization and positioned to becoming a pan-European leader in the construction and skilled trades verticals.

Strengthened the organization across all functions and significantly accelerated organic
Completed 16 add-on acquisitions across the Nordics, Germany and Benelux since entry
Modernized and integrated the company’s product portfolio, enabling scalability and expanding the breadth and depth of functionality
Migrated the product to a fully cloud-based solution and increased the share of recurring revenue from 66% to >90%
In 2024, Adelis raised a continuation vehicle and welcomed EQT as a partner to support the company’s continued growth journey

“Aceve is a great example of how Adelis works with management and enables focused investments to accelerate the business. We are proud to have supported the company in its cloud transition and building a world-class product, as well as making numerous acquisitions to strengthen the offering in our first holding period, and look forward to consolidating the growing European market to become a leader in the space and backing the builders of society.”

Joel Russ